Custody services provider National Australia Bank Asset Servicing (NAS) has won a mandate from JCP Investment Partners for custody and investment administration services.

The win comes after a competitive two month tender process which was managed by Foxrock Consulting.

JCP was initially founded as a joint venture with JP Morgan Asset Management in 1998, but is now 100 per cent owned by JCP employees, directors and long-term advisors, after acquiring JP Morgan's 50 per cent stake in 2010. Previously, JPC used JP Morgan as its custodian.

The firm has about $8 billion in assets under management across four different strategies. Its clients are the Future Fund and faith-based multi manager CCI Investment Management.

NAS, which is the largest custodian in Australia with $550 billion in assets under custody, recently had a number of significant mandate losses, including QSuper, AV Super, QIC's middle office services, SunSuper, Military Super and City Super.

The latter two were lost as the result of mergers. ##But NAS also had a series of new appointments, NAS sales, relationships and financial market services general manager Brian Keogh said.

"Establishing this relationship with JCP marks NAB's ninth win in nine months, a testament to the Asset Serving team and their dedication to recognising the needs of our customers," Keogh said.

Recent wins include the Australian Reinsurance Pool Corporation and RAC Insurance, while the company also retained Club Plus Superannuation.